With the deep analysis of the above options, it is advised that the company ought to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would allow the company to not just present new and ingenious products in the market it would likewise reduce the high expenditures on R&D under alternative 2 and increase the earnings margins. It would enable the business to increase its share costs too, as investors are willing to invest more in business with substantial R&D spending and boost in the overall worth of the business.
Action and implementation Strategy
Technique can be implemented effectively by establishing particular short term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Sensing And Monetizing Happiness At Hitachi need to perform various activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which produce the majority of its income.
• Analyze the present target market as well as the market sector which is not consist of in the company's circle.
• Evaluate the existing financial data to measure the amount that must be invested in the R&D and acquisitions.
• Examine the potential financiers and their nature, i.e. do they want long term benefits (capital gain), or the desire early profits (dividend). It would let the business to know that just how much amount ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the business has prospective experience to deal with. Get most beneficial organizations with a strong commitment to health, to construct the consumer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Sensing And Monetizing Happiness At Hitachi worths and vision and to prevent possible threat of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste factor, as the base for the Sensing And Monetizing Happiness At Hitachi as a company producing healthy products has been built under midterm strategy and now the business could move towards taste aspect also to grasp the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to construct new items.
